Kornitzer Capital Management Inc. KS Has $5.89 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Kornitzer Capital Management Inc. KS trimmed its position in Phillips 66 (NYSE:PSX) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,676 shares of the oil and gas company’s stock after selling 540 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Phillips 66 were worth $5,887,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV raised its holdings in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the period. Bank of Montreal Can raised its holdings in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares during the period. Mizuho Markets Americas LLC acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. raised its holdings in Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after buying an additional 309,507 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Barclays dropped their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

NYSE:PSX opened at $130.51 on Wednesday. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $118.80 and a 200 day simple moving average of $127.08. The stock has a market capitalization of $53.90 billion, a PE ratio of 26.42, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. On average, research analysts expect that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.52%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.